Rolling four-quarter transaction reached more than $24 billion by year-end 2025 – the highest level since second quarter 2015, which reached $26 billion, according to JLL.
Market sentiment has shifted toward cap-rate compression over the past several quarters. In addition to decreasing cap rates in fourth quarter 2025, 85 percent of survey respondents expect cap rates to decrease further over the next 12 months – a significant increase from 57 percent just one year ago. This optimistic outlook reflects improving market conditions and investor confidence in the sector’s trajectory.
The U.S. 80-plus population is projected to grow 36.6 percent over the next decade (compared to 5 percent total population growth), with more than 10,000 Americans turning 65 daily, creating unprecedented long-term demand for seniors housing.
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